KRISHNA BUILDER,JABALPUR vs. PR. CIT-1, JABALPUR, JABALPUR

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ITA 8/JAB/2021Status: HeardITAT Jabalpur29 June 2022AY 2016-172 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal accepted the assessee's prayer for withdrawal of the appeal. The assessment order passed pursuant to the section 263 order had already been made, accepting the assessee's returned income.

What were the facts?

The assessee filed an appeal against a revision order under section 263. The assessee later wished to withdraw the appeal as it did not want to prolong litigation.

What were the issues?

Whether the assessee's appeal against the revision order is maintainable when the assessee wishes to withdraw it and the subsequent assessment has been finalized.

Which sections of the Income-tax Act were involved?

Section 263,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, JABALPUR BENCH, JABALPUR

Before: SHRI SANJAY ARORA, HON’BLE & SHRI MANOMOHAN DAS, HONBLE

For Appellant: Shri Anil Kumar Gupta, FCA
For Respondent: Shri Shiv Kumar, Sr. DR
Hearing: 29/06/2022Pronounced: 29/06/2022

This is an Appeal by the Assessee agitating the revision of it’s assessment under section 143(3) of the Income Tax Act, 1961 (‘the Act’ hereinafter) dated 08/11/2018 for Assessment Year (AY) 2016-17, vide order u/s. 263, dated 27/03/2021.

2.

At the very outset, it was submitted by Shri Gupta, the ld. counsel for the assessee, with reference to assessee’s application dated 24/06/2022, that the assessee wishes to withdraw it’s instant appeal as it did not want to enlarge litigation. Permission for the same was accordingly prayed for, to which Shri Kumar, the ld. Sr. DR, did not fairly object.

(A.Y. 2016-17) Krishna Builder v. Pr. CIT

3.

We have heard the parties, and perused the material on record. Assessment pursuant to s.263 order has since been made on 31/03/2022, accepting the assessee’s returned (on 30/03/2017) income of Rs. 12,44,120, i.e., as originally assessed u/s. 143(3) on 18/11/2018. Under the circumstances, the instant appeal is rendered academic. We, accordingly, have no hesitation in accepting the assessee’s prayer and, accordingly, permit the withdrawal of it’s instant appeal. We decide accordingly.

4.

In the result, the assessee’s captioned appeal is dismissed as withdrawn. Order pronounced in open Court on June 29, 2022

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